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REGISTERED NUMBER: 11987882 (Wales)















Unaudited Financial Statements for the Year Ended 31st May 2023

for

Mwgsi CYF

Mwgsi CYF (Registered number: 11987882)






Contents of the Financial Statements
for the Year Ended 31st May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Mwgsi CYF

Company Information
for the Year Ended 31st May 2023







DIRECTORS: J G Davies
B Davies





SECRETARY:





REGISTERED OFFICE: Carreg Eithin
Erwenni
Ala Road
Pwllheli
Gwynedd
LL53 5RH





REGISTERED NUMBER: 11987882 (Wales)





ACCOUNTANTS: A.Hughes-Jones, Dyson & Co.
Capel Moreia
South Penrallt
Caernarfon
Gwynedd
LL55 1NS

Mwgsi CYF (Registered number: 11987882)

Balance Sheet
31st May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,024 3,456

CURRENT ASSETS
Stocks 565,611 235,988
Debtors 5 21,701 13,259
Cash at bank 8,407 -
595,719 249,247
CREDITORS
Amounts falling due within one year 6 639,290 278,629
NET CURRENT LIABILITIES (43,571 ) (29,382 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(40,547

)

(25,926

)

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (40,647 ) (26,026 )
(40,547 ) (25,926 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Mwgsi CYF (Registered number: 11987882)

Balance Sheet - continued
31st May 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20th February 2024 and were signed on its behalf by:





J G Davies - Director


Mwgsi CYF (Registered number: 11987882)

Notes to the Financial Statements
for the Year Ended 31st May 2023

1. STATUTORY INFORMATION

Mwgsi CYF is a private company, limited by shares , registered in Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance and 20% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

Mwgsi CYF (Registered number: 11987882)

Notes to the Financial Statements - continued
for the Year Ended 31st May 2023

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st June 2022 5,915
Additions 408
At 31st May 2023 6,323
DEPRECIATION
At 1st June 2022 2,459
Charge for year 840
At 31st May 2023 3,299
NET BOOK VALUE
At 31st May 2023 3,024
At 31st May 2022 3,456

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Other debtors 21,701 13,259

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade creditors (1 ) -
Other creditors 639,291 278,629
639,290 278,629